Paychest Inc (PYCT)

[mortalmyth]

PayChest NOT Owner of Mibella Trademark

Now why would PayChest continue to imply that they have rights to the Mibella trademark when Cardiff Bay Holdings are the new registered owners, the same company that holds the Flushaway tech license agreement and has the notorious John Banks as a principle? PayChest sure didn't disclosed how they supposedly obtained such rights to the Mibella trademark in their just released annual report. In fact, PayChest is only now beginning to negotiate with Cardiff for renewal of the Flushaway tech license agreement, as depicted in one of my recent posts.

The PayChest statement:

Paychest has an exclusive manufacturing license to patents, trademarks, and select marketing rights to Mibella® that allows us to exclusively market in many countries.

The Mibella Trademark ownership info:

Current Owner(s) Information
Owner Name: Cardiff Bay Holdings Ltd
Owner Address: 1206-1207 New Victory House
93-103 Wing Lok Street
Central
HONG KONG
Legal Entity Type: limited company (ltd.)
State or Country Where Organized: VIRGIN ISLANDS, BRITISH

http://tsdr.uspto.gov/#caseNumber=85475117&caseType=SERIAL_NO&searchType=statusSearch

I still find it very odd that Cardiff Bay Holdings would file for and obtain the Mibella Trademark, instead of Paychest. I assume this is being done to force PayChest into paying License Fees to Cardiff, similar to what they are doing for using of the Flushaway technology. This arrangement doesn't look to be in the best interest of PYCT shareholders. I guess this way allows Banks to just make more bank.

Good luck to the longs.